Daily Archives: Jul 9, 2018

Puerto Rico High Resolution Crisis Concept

After a year of delighting conservatives and investors with tax cuts and regulatory rollbacks, Pres Trump is finally following through on the tough trade rhetoric he had during his campaign. The type of rhetoric that terrifies economists, investors, republican leaders and lower-income citizens around the US, who will ultimately have to pay more for goods and services. This couldn’t have come at a worse time for the islands of Puerto Rico who have been suffering the past 6 months from the devastation of Hurricane Maria and higher consumer prices will further impede the territories’ ability to stabilize economic growth.

President Trump’s latest move was a 25 percent tariff on steel imports and 10 percent of aluminum imports. This move shook global markets and angered world leaders, provoking a direct response from the European Commission President Jean-Claude Juncker, who said Friday that the EU could impose tariffs on Harley Davidsons, Levi jeans and bourbon.

“I don’t like using the word trade war, but I can’t see how this isn’t part of warlike behavior,” Juncker told German media.

On Saturday, President Trump then threatened the European Union with a tax on cars made in Europe via Twitter.

“If the EU wants to further increase their already massive tariffs and barriers on US companies doing business there, we will simply apply a Tax on their Cars which freely pour into the US,” Trump said.

This is just one example of how tensions are rising for world leaders, angered by the across-the-board tariffs with no exclusions.

The US is the main trading partner of Puerto Rico and accounts for nearly 90% of latter’s exports and over 55% of its imports. This leaves Puerto Rico tied to whatever fate America or more specifically, President Trump, decides to move towards.

Puerto Rico’s remaining top 25 importers include the countries in the EU of Ireland, France, Spain, the UK, Italy, Lithuania, Belgium and Germany. The decision to impose these tariffs has a high probability of being met by countermeasures from the EU and other countries to attempt to rebalance their own markets. This could lead to the layoff of tens of thousands of workers, cause companies to stop investing in the United States and bring an American economic engine screeching to a halt.

Also, the top 25 list of imports to Puerto Rico includes Canada and Mexico. Trump has repeatedly threatened to remove the US from NAFTA, a trade agreement between Mexico, Canada and America.

These tariffs will bring work and business back to American workers in certain sectors and make them more competitive, but if a trade war begins, this will drive prices for consumers up, acting as inflation in a way. When people have less purchasing power, they spend less, causing companies’ revenues to decline forcing them to lay off workers to cut costs. This may have a directly negative effect on the global economy and leave Puerto Rico citizens, who consist of mainly lower income citizens, left with no jobs or enough money to support themselves.

Puerto Rico also has severely lacked a sustainable power grid and still has thousands of people without basic electricity. In January, Trump enacted a punitive 30% tariffs on solar panel imports, impeding their ability to buy solar panels at the lowest possible cost and this is crucial for a government who is 73 billion in debt. The tariff isn’t specifically targeted at China, but that’s where most imported solar panels come from.

Trump’s Chief Economic Advisor seems to also disagree with the direction trade is heading, as he announced his resignation on Tuesday.

President Trump argues, reducing trade deficits will work in tandem with lowering taxes and reducing federal regulations, to supercharge growth but if China, the US’s biggest trading partner, or any country in which we do trade with, responded with hostility and a trade war began with them, there would be a myriad of unintended consequences – higher consumer prices, offshored jobs, and an increased trade deficit. Only time can give the answer to if Trump’s newly enacted tariffs and harsh rhetoric will threaten the economic growth of not only Puerto Rico, but the entire world economy.

Story by: Sean Ruditz

Everyday Activities With hundreds of events scheduled throughout the year, there’s something for everyone at Canalside.

The Summer Fun The Buffalo summer season at Canalside is all about fun and relaxation on the waterfront.

2018 CANALSIDE LIVE Summer Concert Season The concert season opened on June 14 with musical guests Method Man and Redman.

Mark your calendars for the next concert! Gates open at 5:00 pm.

Thursday, July 12th- Arrested Development and Canadian Rock Band The Trews Thursday, July 19th- Kenny Wayne Shepherd Band and Beth Hart Band Thursday, July 26th- Father John Misty and Lucy Dacus Thursday, August 2nd- Dark Star Orchestra (Grateful Dead Cover band) Thursday, August 9th- Headstones and Glorious Sons Friday, August 17th- The Mighty Mighty Bosstones and The Lowest of the Low

General Admission: $5.00 – if tickets are purchased at any of the 17 WNY Consumers Beverages locations or at the Canalside Information Kiosk (on Canalside’s Boardwalk near the Whipple Truss Bridge), you will receive a coupon for a free beverage at the show (beer, wine, pop, or water). Beverage coupon is only available for tickets purchased at Consumers or at the Canalside Info Kiosk prior to the show and can only be used on that specific show.

Tickets can also be purchased on eventbrite.com and at the door on the day of the show but will not come with a drink coupon.

VIP Tickets – $35.00 – Tickets can be purchased at the Canalside’s Info Kiosk or online at eventbrite.com. VIP Tickets include access to the VIP Honda Pavilion, 2 beverages, free appetizers, private restrooms, front of stage viewing area, and a souvenir cup.

NEW ** Grammy Award Winning Artist and Actor – Ludacris has been added to the Canalside Live Concert Series. – Saturday, July 28th – Gates open at 5:30 pm NOTE: VIP tickets are $40 and can be purchased online at www.eventbrite.com.

NEW ** A MUSIC and FILM EVENT – Saturday, July 21, 2018

The Buffalo Philharmonic Orchestra performs selections from some of the most popular films of the past including Beauty and the Beast, Star Wars, Frozen, The Incredibles, Hook, Harry Potter, Pirates of the Caribbean, and Ghostbusters! Following the performance, the original Ghostbusters film will be shown for a perfect summer outing! Sponsored by Bank of America. FREE Event – no ticket required. Doors open at 5 pm – Music starts at 6 pm Film starts at 7 pm.

Want a VIP Viewing Experience? Complimentary popcorn and one (1) free soft drink per person. Private restrooms, premium viewing area, limited seating available. Tickets are $20 and sold on www.eventbrite.com or at the Canalside Information Kiosk.

A Focus on Fitness Free daily fitness classes presented by BlueCross BlueShield include activities such as Zumba, Barre Centric Fitness, Yoga, African Dance and Drumming, and Everyone Can Dance classes.

Children Activities There are plenty of activities to keep your children busy and happy. Experience Explore & More Family Fun kids’ fitness classes, Family Fun Thursdays and more! Check the website for daily activities.

A Celebration of Black Music Month at Canalside On Friday, June 22 WUFO AM 1080/Power96.5 hosted their annual Summer Jam. The community event featured live music, family activities, food trucks, vendors, a Sole-2-Sole walk, presented by Dr. Holley, Job Fair, Health Fair, a fashion and hair show.

Tuesday Movie Series is a free outdoor film series at Canalside. Lawn chairs and picnics are welcome; concessions will be available. NEW START time this year – 6 p.m.!

July 17th: Star Wars: The Last Jedi, rated PG-13 July 24th: Elf, rated PG July 31st: The Lego Ninjago Movie, rated PG August 7th: Coco, rated PG August 14th: The Wizard of Oz, rated PG August 21st: The Greatest Showman, rated PG August 28th: Boss Baby, rated PG

Keep updated by visiting www.canalsidebuffalo.com.



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